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U.S. GDP increased at a 2.6% annual rate

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Staff writer ▼ | March 28, 2014
DollarsThe U.S. gross domestic product in the last three months of 2013 increased at a 2.6% annual rate, up from the previous estimate of 2.4%, the Commerce Department said. That's the government's third and final estimate of fourth-quarter growth.


Economists had estimated that today's revision would show 2.7% growth. For all of 2013, the economy grew at a 2.6% rate, slightly more than the 2.5% previously estimated.

Consumer spending increased at a 3.3% annual pace, partly on stronger health care outlays, up from the previous 2.6% estimate. Also, state and local government spending and exports rose more rapidly than initially thought.

Business equipment expenditures, a key gauge of companies' appetite for capital spending, also picked up more than previously estimated.

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